‘Fashion,’ is a term that is synonymous with Los Angeles. Being the metropolitan city it is, sophisticated fashion plays a huge role. But LA and fashion have their own uniqueness – perhaps to be described as outrageous sophistication.
Social media is a main tool used for LA fashion marketing. And when it comes to 3D printing, the region comes only slightly behind the Number 1 spot held by New York. There is a chance it could soon overtake New York as well. While LA has a reputation for holding the key to technology, globally, the city also is a huge red carpet and camera lover. In conclusion, according to CIT Commercial Services President Marc Heller, “Taken together, the savvy use of social media, a state-of-the-art manufacturing platform and a well-developed import and export infrastructure position the Los Angeles region as a leading global fashion epicenter. Both established and emerging retail and fashion companies would benefit from working with a financial institution that has deep experience in lending to this sector and that understands the challenges and opportunities it faces.”
Furthermore, the strength of the fashion industry plays a huge role in LA’s economy. According to a recent report from the Joint Economic Committee of Congress, “by far the two largest fashion hubs in the United States are New York City and Los Angeles.” This translates into jobs and thus economic wealth. For example, it was found by a report assembled by the Otis College of Art and Design, that between 2009 and 2014, the second industry to provide the most jobs was fashion.
Fashion in LA therefore, seems to be one way forward for a burgeoning economy.